Approval & Closing TimeframesJune 11, 2013
As part of our service commitment, intelliMortgage strives to:
- Obtain approval from your chosen lender in 48 business hours or less
- Close your mortgage in just 18 business days (if you so choose)
These timeframes are estimates based on a standard application, approved credit, an owner-occupied home, typical lender processing times, normal income qualification and all documents being available up front.
The 18-business-day timeframe applies to purchases and refinances closed by a lawyer within 3 business days of instructions being received. The 18-day timeframe starts from the time your application is submitted by us to the lender you’ve chosen, which occurs once we receive your required documentation.
intelliMortgage’s 18-business-day close policy is not applicable to:
- switches (aka., transfers or assignments), which usually require at least 30 days to close
- rental properties
- blended rates
- non-prime applications
- applications with atypical property types or construction
- lenders with application backlogs.